Whole Foods
Whole Foods
Marketing description
The Newmark Pacific Retail Capital Markets Team is proud to present the opportunity for qualified investors: the acquisition of Whole Foods’ flagship Pasadena location (the “Property”), located near the heart of Old Town Pasadena.
This flagship purpose-built Whole Foods represents a premier ±77,046 square foot NNN-leased investment opportunity, backed by a recent lease extension and fortress credit. The opportunity features approximately 12.5 years of firm lease term remaining, with near-term growth through scheduled 8% rental increases in 2027, plus three additional 5-year option periods, each with 10% escalations. This increase schedule ensures stable, predictable, and growing cash flow for investors, offering long-term security and income growth. This is the flagship Whole Foods that was customized for their use to serve their key customer base in the heart of the highly-desirable Pasadena/West San Gabriel Valley. The property is also strategically improved with its own dedicated loading docks, allowing Whole Foods/Amazon high-throughput loading and delivery to this strategic infill market, proximate to major arterials and highways.
Strategically situated in one of Southern California’s most affluent and dynamic retail corridors, the property benefits from strong demand fundamentals. The dense Pasadena trade area boasts over 200,000 residents with average household incomes nearing $165,000 and enjoys proximity to top employers and research institutions such as Caltech and NASA JPL. The Property offers 275 dedicated parking spaces and excellent access, strengthening both tenant performance and the property’s future value. The site’s adjacency to the transformative Affinity mixed-use development further enhances its positioning in the market. Pasadena’s robust employment base in the technology, healthcare, and professional sectors, combined with ongoing multi-family and commercial development, continues to drive resilient and expanding retail demand. The generous site layout and infrastructure make the property well-suited for last-mile logistics, benefiting from convenient freeway access to serve evolving shopping and delivery patterns. Collectively, these factors position the Whole Foods Pasadena flagship as a core, generational investment with exceptional stability, growth potential, and enduring appeal within a premier Southern California market.
Investment highlights
Recently executed 10-year lease extension, providing a secure base term with an 8% rent increase in 2027
Best-in-class credit
Passive NNN investment with limited landlord responsibilities
Dense, affluent market — nearly 200,000 residents within a 3-mile radius, average household income ~$160,000
Pasadena has established wealth, a robust professional job market, and is the leading Tri-Cities market
Abundant on-site parking with 275 dedicated stalls
Strong candidate for a primary delivery hub in the Tri-Cities, supporting future sales growth and tenant stability
High barriers to entry and land constraints make the property irreplaceable and prohibitively expensive to replicate
Whole Foods has operated here for nearly 20-years, showcasing the long-term stability of this location
Growth in online grocery delivery services increases demand for large format, infill stores as distribution hubs — underscoring tenant’s long-term occupancy
Whole Foods is located adjacent to 555 Arroyo, a mixed-use development containing a 185,000 SF senior living facility and 135,000 SF medical office building
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